SCO by Token Network
We are excited to announce our SCO program to be carried on the Nuls Blockchain. The token network team has been working with Nuls since the start of the SCO program and on 28th March we are making this live with our token called Token Network Lite.
What is Token Network Lite?
Token network Lite is an NRC20-Token which is 1:1 with the Token network token which is currently listed on exchanges as an ERC-20 token. Token Network Lite tokens can be swapped and exchanged for token network (Erc-20),
Parameters of the SCO.
· Token type NRC-20
· Total supply: 10000000 TNXL
· Circulation ratio: 20.00%
· POCM ratio: 80.00%
· Token name: TokenNetworkLite
· Token symbol: TNXL
· Remaining Token in the contract: 8000000.08
· POCM contract: NULSd6HgwjhaxDFZ6KH7fkohJLwW13DiozLhF
· Token contract: NULSd6HgnvP3rBcFG9iobGGdj3uAfnYmLiRnv
· Minimum number of NULS staking: 20 NULS
· Total staking: 0 NULS
· Running nodes: 0
· Participants: 0
· Reward cycle: 10
· Single-cycle rewards; 17 TNXL
· Daily reward/100 NULS: 0 TNXL
· Token locked days: 14
Why were two tokens created being Token Network and Token Network Lite ?
While working with exchanges and different markets we decided to adopt the ERC-20 token standard to keep the exchange listing process secure and smooth for our users. We love the model for SCO as it allows users to earn TNXL via this program over a period of 514 days without even risking their capital investment i.e. the Nuls coins that are staked into the program.
In order to use the SCO program, we needed to create a separate coin on Nuls using the NRC-20 Token standard and therefore we are using token network lite (TNXL) as the SCO coin. This will make our process easier and let the token network coin trade without interfering with the economic model of the token network coin.
We have allocated 8 million worth of TNXL towards the SCO program and 2 million of the 10 million allocations for token network lite will be used towards community building and growing the token network ecosystem.
Swapping to Token Network (Erc-20)
We will be opening our swapping token network from March 31ST, 2020 and our core team will be guiding users through the process of swapping earned TNXL to Token Network.